Arrivae will use proceeds from the latest infusion of funds to intensify its existing roadmap
Emerge Capital and current investors participated in this Series B funding round
The startup has lately raised another INR 75 Cr from Rakesh Jhunjhunwala, Enam family, and other individual investors
Mumbai-based made-to-order furniture manufacturer and home improvement startup, Arrivae has closed its Series B funding round with INR 75 Cr investment from Think Investments and Havells Group. Emerge Capital and current investors participated in this round. Apart from investing, Emerge Capital’s Sahil Jain served as a transaction advisor too. Proceeds from the latest infusion of funds will be used to intensify its existing roadmap.
The platform lately raised INR 75 Cr from business magnate, Rakesh Jhunjhunwala, Enam family, Siddharth Yog (founder, Xander Group), Anand Jain (chairman, Jai Corp), Harsh Jain (founder, Dream 11), Ramesh S. Damani (chairman, DMart) and Harish Shah (founder, Signet) with the goal of positioning itself as a one-stop home improvement ecosystem across India.
The startup intends to use the funds to expand its ‘Made By You’ design process, as well as its digitally linked supply chain, intelligent 4.0 manufacturing process, onsite refurbishment platform, and private label creation.
“I believe in the enormous magnitude of the possibility; the value transfers from unorganised onsite labor to organised custom-made factory finish deliveries, the integrated supply chain defensibilities, and the prospect of fixing a customer’s inefficiencies of time, money, and inconveniences,” said, Yash Kela, founder and chief investment officer of Arrivae.
Arrivae was established in 2017 by Kela to empower and democratise home design to make it accessible and affordable. The startup claimed to deliver remarkable projects and building scale across 19 cities through 35 stores. The startup is said to have successfully created more than 12000 spaces with the help of its more than 275 designers.
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“The home improvement industry is evolving into one of the most profitable markets in India, especially post the pandemic. Arrivae has managed to establish a niche in this space, focusing on building a digitally integrated supply chain, venturing into the home styling services, and organizing the onsite renovation services. Through this investment, we want to be a part of their growth journey,” said, spokesperson of Think Investments.
The startup said, it’s ‘Made by You’ experience offers end-to-end custom interior design solutions from demand mapping to installation supported by in-house technology. It follows a data-driven manufacturing process, interconnected system, and efficient procurement with minimum manual intervention to make home improvement more accessible with minimum wastage and at the right price, as it said.
Of late, Bengaluru-based home interiors startup, Livspace joined the unicorn club after raising a $180 Mn in Series F funding round led by KKR. Existing investors, including Ingka Group, Venturi Partners, Peugeot Investments and Jungle Ventures too participated in the round.
While, home decor startup HomeLane, announced ESOP buyback worth INR 27 Cr, thus, buying back ESOPs for the second time.
According to a Redseer report, the Indian furniture and home market will expand to $40 Bn in the coming five years. In the offing, the online furniture and home sales will increase to 39% CAGR.